Seychelles FSA Securites Dealer License
The Seychelles Financial Services Authority (FSA), under the administration of the Seychelles ministry of finance, is formerly known as the international business authority (SIBA), which covers all non-bank financial business. As one of the most internationally regulated government bodies dealing with overseas companies, the FSA is responsible for the approval and supervision of the insurance, securities, finance leasing, gambling and offshore finance industries.
A Securities Dealer License allows holder to :
Advise other persons concerning investment in securities;
Issue, analyze or prepare reports concerning specific securities;
Manage a portfolio of securities for another person; and
A Securities Dealer License is in essence a Seychelles forex trading licensed company that is allowed to trade in securities either as a Nostro Account or as an agent.
A tax rate of 1.5% will be applicable on the assessable (gross) income of the licensee.
No withholding tax is payable on dividends and/or interest payable.
Distinctive Benefits of License
Flexible structuring of the entity
Favorable compliance restrictions
Friendly regulatory environment
Low capital requirements
Minimum Paid up Capital: 50,000USD
Minimum 2 Directors and Shareholders, Fit and Proper
Procure and equip a place of business in Seychelles from where the operations of the company shall be run
Have insurance cover for professional indemnity as per the Act’s requirements.
A comprehensive and effective compliance program is the basis of meeting all of your obligations under the AML Act and associated Regulations. During a FSA examination, it is important to demonstrate that the required documentation is in place and that employees, agents, and all others authorized to act on your behalf are well trained and can effectively implement all the elements of your compliance program. A senior officer must approve the compliance program and the compliance officer must have the necessary authority to carry out the requirements of the program. You must:
Appoint a compliance officer responsible for the implementation and oversight of the compliance program;
Develop and apply written compliance policies and procedures that are kept up to date and approved by a senior officer;
Apply and document a risk assessment , including mitigation measures and strategies;
develop and maintain a written training program for employees, agents, and others authorized to act on your behalf;
Know your client:
As a securities dealer license holder, you must apply Customer due diligence measures, also known as ‘know your client’ (KYC), as defined in r 3 of the AML regulations. This has four key components:
identifying customers, including any person acting on behalf of a non-individual customer, and verifying their identity;
where the customer is not the beneficial owner, identifying the beneficial owner and taking reasonable measures to verify the beneficial owner‟s identity;
obtaining enough information about the nature of the business relationship and the customer or beneficial owner‟s business to identify complex or unusual transactions or patterns of transactions and other high-risk activity;
taking reasonable measures to ascertain the purpose of one-off transactions (defined in r 5 as transactions outside an existing business relationship that exceed R 100,000 or R 50,000 in cash, whether in a single or several linked operations), and the origin and ultimate destination of all funds transfers.
Two passport photographs, scanned in color
Two certified passport copies
Two certified proof of addresses (not older than 3 months);
Certified academic and professional certificates
Two Employment & Professional Reference Letters
Bank reference letter (not older than 3 months)
Police Criminal Certificate
Tax Clearance Certificate
License application document preparation assistance
AML CTF program, compliance program and risk assessment
Assistance to find proper local staff
Application lodgment to FSA
Bank account opening
Maintanence after application success
Duration to set up: 3-4 month